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NetLedger names Jim McGeever Chief Financial Officer

San Mateo, CA.—July 19, 2000—NetLedger, Inc., the leading application service provider (ASP) that enables small businesses to run their companies totally online, today announced the appointment of Jim McGeever as its CFO. In this role, McGeever will leverage his proven expertise in finance and accounting to lead NetLedger’s financial planning and investment community development, and assist in the company’s overall growth.

“Since joining NetLedger, Jim has done a great job evolving the company’s financial procedures, shaping accounting operations, and building the finance team,” said Bill Mirbach, president and CEO of NetLedger, Inc. “Importantly, he played a leading role in the company’s recent round of financing. Jim deserves this recognition and I am pleased to have him join the executive management team.”

Jim McGeever began his tenure at NetLedger as director of finance in January 2000. In that role, he was responsible for the company’s financial functions and management. As a result of his significant participation in the company’s financial strategies and planning, NetLedger secured $20 million from StarVest Partners L.P., ADP and PaineWebber.

Prior to NetLedger, McGeever served as controller for Clontech Laboratories, Inc., a privately held biotechnology company that was acquired by Becton Dickinson just before its IPO. Before that he was the corporate controller at Photon Dynamics, Inc., a capital equipment maker, where he helped the company through a successful IPO in 1994. McGeever began his career with Ernst & Young.